Everyone has their version of growing pains, from adolescents with pimples and voice cracks to aspiring business people and the various hang-ups of setting up a company. When going through a critical phase of development, having to weather change is both uncomfortable and nerve-wracking. But as the platitude states: change is inevitable. Go through it, no matter how painful or upsetting it is.
Just look at successful conglomerates like Burberry, Wal-Mart, and Dunkin’ Donuts (or should I say Dunkin’). These brands chose to reevaluate how the public sees their products and services and went through the process of revamping how they present themselves from within. These three companies are examples of composing a successful rebranding strategy, and the next success story can be you!
Growth inspires evolution, and if rebranding your business is the best way to grow, give time and effort to it. Here are some brilliant insights on rebranding as you contemplate what rebranding means for your company.
Burberry was once considered “gangwear.” People equated Wal-Mart’s low prices to the negative connotation of “cheap.” And Dunkin’ wanted to break away from being known only for doughnuts. These are some reasons why companies choose to overhaul their image. But before diving into this meticulous process, you have to be well-decided on why rebranding is the next frontier for your business.
Over the past, companies chose to rebrand for the following reasons.
(Quick trivia: clothing retailer Gap did a rebranding for seemingly no reason at all. The change in logo didn’t deliver any new message about their brand and even had customers enraged by the baffling move. They reverted to the old logo only after six days.)
Now back to why some companies are choosing to rebrand;
- The shift in a target consumer group. There may be a noticeable change in consumer behavior, and your company wants to ride this change toward profit. For example, 60% of the emerging consumer community of Generation Z are more active purchasers through Instagram. Please ask yourself this; Is your brand social-media ready, and can it reach these customers well?
- Mergers and acquisitions. Two companies joining forces means two brands are also coming together, whether through a merger or acquisition. In this case, the two existing brands cannot be anymore. A new brand will now represent the combined identities of the two organizations.
- To bounce back from controversy. It’s unfortunate if your brand is linked with scandals and negative publicity, but rebranding is imperative in this case. The Lance Armstrong Foundation had to rename to Livestrong Foundation when the Tour de France athlete was proven to have been using illegal performance enhancements in his career.
- Change in company values. Your company started to redo your mission, vision, and objectives. This redo has to be present in your brand, to promote them holistically. Remember that a brand has to be authentic to what your organization is at the core. If a brand is a means for you to share your company’s values with your target audience, a rebranding must do the same thing, if not better.
- Company growth. Maybe your company needs to make more revenue or reach a greater market to overtake the competition. A rebranding could be the best direction to become the titan your business can be in the marketplace.
What should staffing agencies have in mind before doing a rebranding?
Paola Bustos, the Senior Graphic Designer at Allied Insight, reminds companies that branding is not just a visual endeavor. She emphasized, “Branding requires investigation, not only graphically but also behaviorally on how the brand is expected to move and flourish throughout the market.”
The same goes when delving into your rebranding marketing strategy. It is good to start by evaluating your brand’s current performance in raising revenue or engaging consumers. Ask yourself questions like;
- What did they say across social media about your company?
- Was there any standout or recurrent praises and complaints?
Bustos goes on to emphasize the importance of the brand’s emotional connection to its customers, so try to enrich this connection further with your branding strategy.
Note that there is a lot of pressure for staffing agencies, aside from attracting clients who will avail of your services. Jobhunters who go through your agency seek input on how the recruitment process will go based on your brand.
This is where being brand-centric, or focusing on your brand and its values is essential. This is because doing this will speak volumes about your dedication to your brand’s values and how your potential hires and clients also believe in said values. While the competition between agencies may be fierce, allowing your brand its values as an anchor to who your agency truly is. It makes the brand more attractive to those seeking the services you offer.
What are the recommended steps in doing a rebranding?
Changing your brand identity has to be a definite decision, well discerned by key figures within your business. It not only spells a soon-to-be permanent imprint on consumers’ memory of how your market identity did a revamp but can also steer the overall direction of your business. Give yourself time to make a final decision, then go through these steps:
- Step 1
Have a definite reason for the rebrand. It cannot be just because you’re tired of your old logo or want to shake things up a little. Rebranding is a significant change and therefore, should be a major decision. Put on paper the reasons why the company will do the rebranding.
- Step 2
Gather your team. Make sure you know who will navigate your business through this new direction. Look into creating an internal team or inviting a branding agency.
- Step 3
Do a competitive analysis. In a nutshell, the steps of a competitive analysis include the following:
- Identifying your competitors,
- Gathering data about them,
- Analyzing your competitors’ strengths and weaknesses,
- You are then defining your company’s competitive advantage against them.
- Step 4
Complete a brand audit. Understand what you should do and start working on that. What wasn’t working before so you could fix it and what was working so you could continue with it. This start-stop-continue approach is holistic and foolproof in deciding what aspects of your former brand you will take with you moving forward.
- Step 5
Articulate the new brand. While this does not necessarily mean you will create a new brand guide, the steps on how to come up with one should come in handy. Based on your competitive analysis and brand audit, it depends on how much work is needed to compose a revised brand guide.
- Step 6
Apply the new brand. Time to get your plans rolling! Remember to monitor consumers’ reactions, make tiny tweaks if necessary, and do a review at the end of your assigned timetable if the rebranding is a success.
Make your rebranding a “pandastic” journey with Allied Insight.
We want our clients to stand out and successfully carry out their brand.
We at Allied Insight are poised to help you protect your brand identity, build brand recognition consistency, and attract further business opportunities. As a premier full-stack marketing agency, we will do our best to support your staffing agency with the right know-how to have the right brand.
Don’t just be fantastic, be “pandastic”. Contact Allied Insight now.